Last year Best Care had $32,000,000 in total revenues. The companys net income was $400,000, its ROE

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Last year Best Care had $32,000,000 in total revenues. The company’s net income was $400,000, its ROE was 14%, and its total assets turnover was 6.0. The company was financed entirely with debt and equity. What was Best Care's Debt Ratio?

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Survey of Accounting

ISBN: 978-0073379555

2nd edition

Authors: Edmonds, old, Mcnair, Tsay

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Posted Date: Apr 18, 2023 06:12 AM

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Last year Best Care had $32,000,000 in total revenues. The companys net income was $400,000, its ROE

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Expert Answer:

We can use the DuPont formula to calculate the debt ratio of Best Care The DuPont formula breaks dow... View the full answer

Survey of Accounting

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